Reliance Acquires Atlanta Steel Company

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Reliance Steel & Aluminum Co. has agreed to acquire Industrial Metals and Surplus Inc., in another of a series of acquisitions the Los Angeles company has made nationwide.


Industrial Metals was founded in 1978 and specializes in the processing and distribution of carbon steel products, as well as flat-rolled and ornamental iron products. The Atlanta-based company had 2005 sales of $72 million.


The move will expand Reliance’s exposure in the expanding South Eastern steel market and will add a key distribution center to its 160 facilities across North America. The management team at Industrial Metals will stay in place, Reliance said. The terms of the deal were not disclosed.


Shares in Los Angeles-based Reliance were up 74 cents to $39.69 in early trading Wednesday.

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